C$ hovers near 7-week low as NAFTA trade talks resume

TORONTO: The Canadian dollar was little changed against its US counterpart on Wednesday, holding near its lowest in nearly seven weeks as the Bank of Canada left interest rates unchanged and investors focused on talks to revamp the NAFTA trade pact.

The Bank of Canada said it was closely monitoring the North American Free Trade Agreement (NAFTA) negotiations and other trade policy developments as it held its policy interest rate at 1.50 percent.

The central bank, which has raised interest rates four times since July 2017, said more hikes would be needed to keep inflation on target.